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Mortgage Servicing Rights - Rollforward of Mortgage Servicing Rights (Details) (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| Activity for residential first mortgage MSRs | ||
| Balance, January 1 | $ 3,530,000,000us-gaap_ServicingAssetAtFairValueAmount | $ 5,042,000,000us-gaap_ServicingAssetAtFairValueAmount |
| Additions | 179,000,000us-gaap_ServicingAssetAtFairValueAdditions | 265,000,000us-gaap_ServicingAssetAtFairValueAdditions |
| Sales | 0us-gaap_ServicingAssetAtFairValueDisposals | (20,000,000)us-gaap_ServicingAssetAtFairValueDisposals |
| Amortization of expected cash flows | (230,000,000)bac_ServicingAssetAtFairValueAmortizationofExpectedCashFlows | (232,000,000)bac_ServicingAssetAtFairValueAmortizationofExpectedCashFlows |
| Impact of changes in interest rates and other market factors | (176,000,000)bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsInterestRatesandOtherMarketFactors | (317,000,000)bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsInterestRatesandOtherMarketFactors |
| Model and other cash flow assumption changes: | ||
| Projected cash flows, including changes in costs to service loans | 87,000,000bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsProjectedCashFlowIncludingChangesinCoststoServiceLoans | (36,000,000)bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsProjectedCashFlowIncludingChangesinCoststoServiceLoans |
| Impact of changes in the Home Price Index | (12,000,000)bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsHomePriceIndex | (11,000,000)bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsHomePriceIndex |
| Impact of changes to the prepayment model | 9,000,000bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsPrepaymentModel | 160,000,000bac_ServicingAssetAtFairValueChangesinFairValueResultingfromChangesinValuationInputsPrepaymentModel |
| Other model changes | 7,000,000us-gaap_ServicingAssetAtFairValueOtherChangesThatAffectBalance | (86,000,000)us-gaap_ServicingAssetAtFairValueOtherChangesThatAffectBalance |
| Balance, end of period | 3,394,000,000us-gaap_ServicingAssetAtFairValueAmount | 4,765,000,000us-gaap_ServicingAssetAtFairValueAmount |
| Mortgage loans serviced for investors (in billions) | 475,000,000,000bac_ServicingAssetAtFairValueForInvestors | 542,000,000,000bac_ServicingAssetAtFairValueForInvestors |
| Consumer Portfolio Segment | United States | ||
| Model and other cash flow assumption changes: | ||
| Balance, end of period |
3,100,000,000us-gaap_ServicingAssetAtFairValueAmount / bac_FinancingReceivablePortfolioSegmentAxis = us-gaap_ConsumerPortfolioSegmentMember / us-gaap_StatementGeographicalAxis = country_US |
4,600,000,000us-gaap_ServicingAssetAtFairValueAmount / bac_FinancingReceivablePortfolioSegmentAxis = us-gaap_ConsumerPortfolioSegmentMember / us-gaap_StatementGeographicalAxis = country_US |
| Consumer Portfolio Segment | Non United States | ||
| Model and other cash flow assumption changes: | ||
| Balance, end of period |
$ 286,000,000us-gaap_ServicingAssetAtFairValueAmount / bac_FinancingReceivablePortfolioSegmentAxis = us-gaap_ConsumerPortfolioSegmentMember / us-gaap_StatementGeographicalAxis = bac_NonUnitedStatesMember |
$ 188,000,000us-gaap_ServicingAssetAtFairValueAmount / bac_FinancingReceivablePortfolioSegmentAxis = us-gaap_ConsumerPortfolioSegmentMember / us-gaap_StatementGeographicalAxis = bac_NonUnitedStatesMember |
| X | ||||||||||
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- Definition
This represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows. No definition available.
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- Definition
This represents the changes in the Home Price Index, on the fair value of servicing assets. No definition available.
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- Definition
This represents the change in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. No definition available.
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- Definition
This represents the changes to the prepayment modeal, on the fair value of servicing assets. No definition available.
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- Definition
This represents the net change in projected cash flows due to the recognition of modeled cash flows, on the fair value of servicing assets. No definition available.
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- Definition
This represents the unpaid principal balance of mortgage loans serviced for investors at fair value. No definition available.
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- Definition
The value of new servicing assets, subsequently measured at fair value, acquired or created during the current period through purchases or from transfers of financial assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Definition
Decrease in servicing assets subsequently measured at fair value resulting from conveyance of servicing rights to unrelated parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other net Increase or Decrease in the balance in servicing assets subsequently measured at fair value. This element is for changes other than additions, disposals, changes in fair value resulting from changes in valuation inputs or changes in assumptions, or other changes in fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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